Canada's Economy Hits Speed Bump as Manufacturing Slumps

Canada's economy lost momentum in July after three consecutive months of growth.

The country's gross domestic product was essentially unchanged from June, according to Statistics Canada data released on Tuesday.

This flat reading was in line with economists' expectations, but the details were less comfortable. Weakness appeared across manufacturing, mining, retail and wholesale trade.

Construction and utilities helped prevent the economy from slipping into contraction.

The timing of this slowdown is particularly noteworthy because it largely captures economic activity before a new round of US tariffs took effect in August.